What Is Notice Of Intimation

A notice of intimation of the mortgage of property is made to protect the interests of banks and society, which is submitted under Section 89B of the Registration Act, 1908.

Notice of intimation

E-filing of intimation notices in mortgage cases by way of deposit of title deed became effective on April 1, 2013.

These changes were made to protect the interests of banks and society as a whole. Previously, the agreement/intimation pertaining to a mortgage through title deed deposit was kept out of the public eye.

In the event of a mortgage secured by a deposit of title deed made on or after April 1, 2013:

• A registered contract must be signed between the mortgagor and the mortgagee. The standard registration period is four months from the date of the sign.
• If the agreement is not signed, the mortgagor is required to file a notice of intimation within 30 days of the mortgage’s closing date.
• Non-registration of the agreement / non-filing of the notice of intimation may jeopardize the mortgage’s validity and harm the parties’ interests.
• Anyone who fails to file such notification within the required time frame is subject to the Act’s section 89C penalties.

The limitation time for filing the notice of intimation

The notice should be filed within 30 days from the date of the mortgage.

Where should the notice be filed?

The notification must be submitted with the Sub Registrar’s office in the jurisdiction of the property (and the title documents).

Process of filing notice of intimation

Here is the process for filing notice of intimation

1. Prepare the notification according to the guidelines.
2. Pay the applicable Stamp Duty.

According to Article 6 of the Maharashtra Stamp Act 1958, stamp duty is payable. i.e., 0.1 percent if the loan amount is less than Rs 500000/- and 0.2 percent if the loan amount is more significant than Rs 500000/-. If the stamp duty is paid on any other document for the same loan transaction, such as a Memorandum of Agreement, a stamp duty of Rs 100/- must be paid on the notice.

Stamp duty and filing charges can also be paid online through the Government Receipt AccountingSystem (GRAS). 

3. Attach the pictures and the mortgagor’s signature/s thumb impression/s
4. Have the bank confirm it (the proper officer of the bank has to put the signature with his seal)
5. The mortgagor must submit it, together with a photocopy of the notification, to the Sub Registrar.
6. If Stamp Duty is paid on another document following Article 6 and Rs 100 is paid on the notice, the attested genuine copy of the other document must be supplied with the notice.
7. After verifying the Stamp Duty, the Sub Registrar shall issue a receipt for the filing fee and document handling expenses, as well as an acknowledgment on the photocopy of the notice.

In the case of online E-Filing of the notice of intimation, here is the step-by-step E-filing manual.